Allowance under Proprietor
This query is : Resolved
16 December 2008
What are the allowance I can pay to my employees under proprietor ship business and that allowance should be exempted from tax.
Thanks.
Thanks.
16 December 2008
There is no different rule of prop. business for paying salaries. However You can include the following allowances:
HRA - needs calculation
Transport Allowance - exempted 800 p.m.
Uniform Allowance - actual expenditure by employee
Reimbursement of medical bills - exempted upto 15000 per year
LTC - Exempted 2 times in a block of 4 years. Exemption - actual expenditure.
HRA - needs calculation
Transport Allowance - exempted 800 p.m.
Uniform Allowance - actual expenditure by employee
Reimbursement of medical bills - exempted upto 15000 per year
LTC - Exempted 2 times in a block of 4 years. Exemption - actual expenditure.
16 December 2008
As far as exemptions of allowances to employees are concerned constitution of the employer is of no significance.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Rent claimed on building given on permissive possession basis
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Grand in aid
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
